A medication dispensing and monitoring system of the present invention includes a housing containing an interior for storing and dispensing medication to an authorized patient at a desired time. The invention is programmed to dispense medication at the desired time and activates alarms if the proper procedure is not completed and/or if other undesirable events occur. The invention includes a secondary dispenser as a failsafe to ensure that the patient can obtain a dose of the contained medication in the event of a device malfunction or patient error.